CBI Insurtech

Nigeria's first NAICOM-licensed "Partnering Insurtech," connecting insurers, brokers, and consumers on a digital marketplace.

Distribution & Sales Startup

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Overview

CBI Insurtech (legal name CBI Partnering Insurtech Limited) is a digital insurance marketplace and distribution platform serving individual consumers, insurers, brokers, and health maintenance organizations (HMOs) in Nigeria's motor, property, and personal accident insurance markets.

The company runs two lines of business: a retail operation selling motor, fire and special perils, burglary, and personal accident policies directly to individuals and businesses, and a web- and mobile-based marketplace that connects insurers, brokers, HMOs, and fintechs so customers can compare, purchase, and manage policies and file claims. The marketplace layers AI-based customer engagement and claims support on top of API integrations with underwriting partners, runs on cloud-hosted infrastructure, and is planned to add USSD access for rural and underserved users.

CBI is a subsidiary of Baywood Holdings Limited (also referred to in press coverage as Baywood Group). In May 2026 it became the first company to receive Nigeria's National Insurance Commission (NAICOM) "Partnering Insurtech" licence, issued under the Nigeria Insurance Industry Reform Act (NIIRA) 2025. Company leadership has stated a goal of extending insurance access to more than 200 million Nigerians by 2030 through micro-insurance products distributed via mobile app and USSD, including support for diaspora Nigerians buying coverage remotely.

Products & Services

Digital Insurance Marketplace

Web and mobile platform, positioned as a marketplace rather than an underwriter, that connects insurers, brokers, HMOs, and fintechs so customers can compare, purchase, and manage policies and initiate claims online.

Key Features

Policy comparison and digital onboarding
Claims initiation with AI-powered claims support
AI-powered customer engagement
API integrations connecting insurers, brokers, and HMOs
Digital payment support

Target Users: Insurers, brokers, HMOs, fintechs, and individual policyholders

Motor Insurance

Comprehensive and third-party vehicle coverage sold directly to individuals and businesses.

Target Users: Individual and business vehicle owners

Fire and Special Perils Insurance

Property coverage against fire and related natural-disaster perils.

Target Users: Homeowners and business owners

Burglary Insurance

Theft and break-in coverage for homes and businesses.

Target Users: Homeowners and business owners

Personal Accident Insurance

Covers medical expenses, disability, and death benefits.

Target Users: Individual consumers

At a Glance

Headquarters: Lagos, Nigeria

Category & Focus

Category: Distribution & Sales
Subcategories: Digital Insurance Marketplace Embedded Insurance
Insurance Verticals: P&C Personal Health
Target Customers: Consumers, Carriers, Brokers

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Last updated: 2026-08-08